I went over to Judy and Shermain's place this past week to see their latest property acquisition. What can I say about it? Hmmm.. The only thing that comes to mind is, "OH MY F*%^&(@ GOD!!!". It is amazing. Still a work in progress, but has so, so, SO much potential. I was amazed they got it for such a bargain. I can't even describe my amazement as I went through it. I mean, I knew the rough price they got it for, so as I walking through it, I had the price in my head. But my amazement kept growing, because it just went on, and on. I wasn't amazed by the end of it, I was incredulous. It didn't seem to stop - that's how long in length the place was. I had expected a few rooms, maybe 4 rooms max on the ground floor, and upstairs would replicate the ground floor in area. In rough terms, I was expecting something around the 7m x 15m in total ground floor space, taking into account location and that they got it for cheap.
What I saw completely took me by surprise. If my memory serves me correctly, I counted 7 rooms on the ground floor (reception area + 2 small consultation rooms, chiropractic room, spare room, temporary bedroom, bathroom & toilet, kitchen/bench area, extra toilet, and the back room). The back room was HUGE - my guess is roughly 7m x 12m. I mean, wtf?! And that's even before you even counted upstairs! I mean, when I first entered through the reception area, I already told them the reception area was huge, and in the back of my mind, I thought it was too big because I was afraid the rest of the place would be too small in proportion. How wrong I was. Completely. It just went on, and on, and on.
My mouth was agape as I walked through it. I mean, before I saw the place, we went for lunch on High St. Well, rather, Shermain had lunch; Judy and I watched her eat. But over the so-called lunch, they told me someone offered $200K above their buy price, and they turned the person down. I couldn't understand their logic of doing that at the time, because it sounded like a very good deal to me. A property that returned a $200K profit within 2 months?! OK, discounting stamp duty, capital gains tax etc.. You'd still be up $150K profit on the property within 2 months. But they turned it down. But when I finally saw it, I ended up agreeing with them turning it down - that's how good the place is, and the potential of it. Damn good acquisition, Judy and Shermain. Once the renovations are finished, it's going to look amazing, and double in value. Best sale I've seen in property to date.
Take heart, those of you looking for property - the market is seriously down when a property like that went for so frekking cheap. Amazing. Amazing. Amazing. I gotta applaud them. Too damn good, girls.
What I saw completely took me by surprise. If my memory serves me correctly, I counted 7 rooms on the ground floor (reception area + 2 small consultation rooms, chiropractic room, spare room, temporary bedroom, bathroom & toilet, kitchen/bench area, extra toilet, and the back room). The back room was HUGE - my guess is roughly 7m x 12m. I mean, wtf?! And that's even before you even counted upstairs! I mean, when I first entered through the reception area, I already told them the reception area was huge, and in the back of my mind, I thought it was too big because I was afraid the rest of the place would be too small in proportion. How wrong I was. Completely. It just went on, and on, and on.
My mouth was agape as I walked through it. I mean, before I saw the place, we went for lunch on High St. Well, rather, Shermain had lunch; Judy and I watched her eat. But over the so-called lunch, they told me someone offered $200K above their buy price, and they turned the person down. I couldn't understand their logic of doing that at the time, because it sounded like a very good deal to me. A property that returned a $200K profit within 2 months?! OK, discounting stamp duty, capital gains tax etc.. You'd still be up $150K profit on the property within 2 months. But they turned it down. But when I finally saw it, I ended up agreeing with them turning it down - that's how good the place is, and the potential of it. Damn good acquisition, Judy and Shermain. Once the renovations are finished, it's going to look amazing, and double in value. Best sale I've seen in property to date.
Take heart, those of you looking for property - the market is seriously down when a property like that went for so frekking cheap. Amazing. Amazing. Amazing. I gotta applaud them. Too damn good, girls.
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